Ann: AGM Presentations, page-5

tnks Dan, and tnks also to CBmud re questions at the AGM .......

"toxic" is the correct term for the preff's ......

hopefully others noted the 0.5m reduction in Grieve net ........that's abt 15m in npv at current prices (assuming ramp etc) ......then add the 13m that has been forced to be written off ........and the preffs still need to be repaid !!!!!!!!!!!!!!!! circa 80m ++ in toto .......

I didn't chk the votes re issuances of stock to management ......I hope it was voted down.....

value......however, its higher risk due to the cap structure.

look fwd to CB's comments re any other q's he may have asked

rgds
V_H